Netflix (NFLX Quote) and TiVo (TIVO Quote) jumped Friday as two wheezing tech favorites formalized their video-on-demand partnership.
Netflix jumped 8% and TiVo rose 4% in midday trading after the two companies said late Thursday that they had formed a joint development agreement. The move came about a month after Newsweek reported the linkup, setting off a rally in the once-beloved stocks that has mostly dissipated.
While the move combines two well-known names in home video entertainment, no terms were disclosed, leaving a number of questions about just how the companies plan to make the venture work.
After leading their respective categories, both Netflix and TiVo began to lose steam in recent years as rivals invaded their niches. To some, the sketchy joint venture confirms that both companies may be desperately reaching for some differentiation strategy, now that their corners on the market have grown crowded. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet